Federal Reserve Cuts Interest Rates for Third Time in 2019

Glass Magazine
November 4, 2019

The Federal Reserve cut interest rates for the third time in 2019. The Federal Open Market Committee cut rates to a range of 1 ¾ percent to 1 ½ percent.

"This action supports the Committee's view that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective are the most likely outcomes, but uncertainties about this outlook remain,” said FOMC officials in a prepared statement. “The Committee will continue to monitor the implications of incoming information for the economic outlook as it assesses the appropriate path of the target range for the federal funds rate.”